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2 Apr 2014
EUR/USD breaks below 1.3785 after ADP report
The Euro is losing ground against the US Dollar following the weaker than expected ADP report. The EUR/USD just broke the MA 200-hour level at 1.3785 to trade at daily lows around 1.3775.
The ADP reported 191K new jobs in The United States in March. It was below 195K jobs expected; however March has been the highest reading in 2014.
EUR/USD sentiment
Currently, EUR/USD is trading at 1.3782, down -0.08% on the day, having posted a daily high at 1.3821 and low at 1.3778. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
Levels to watch
Current price is 1.3784, with resistance ahead at 1.3786 (Hourly 200 SMA, 1.3793 (Daily Classic PP), 1.3793 (Daily Open, 1.3794 (Weekly High) and 1.3796 (Hourly 20 EMA).
Next support to the downside can be found at 1.3780 (Daily Low, 1.3778 (Weekly Classic PP, 1.3770 (Hourly 100 SMA, 1.3769 (Daily Classic S1) and 1.3768 (Yesterday's Low.
The ADP reported 191K new jobs in The United States in March. It was below 195K jobs expected; however March has been the highest reading in 2014.
EUR/USD sentiment
Currently, EUR/USD is trading at 1.3782, down -0.08% on the day, having posted a daily high at 1.3821 and low at 1.3778. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
Levels to watch
Current price is 1.3784, with resistance ahead at 1.3786 (Hourly 200 SMA, 1.3793 (Daily Classic PP), 1.3793 (Daily Open, 1.3794 (Weekly High) and 1.3796 (Hourly 20 EMA).
Next support to the downside can be found at 1.3780 (Daily Low, 1.3778 (Weekly Classic PP, 1.3770 (Hourly 100 SMA, 1.3769 (Daily Classic S1) and 1.3768 (Yesterday's Low.